Insider Selling: CarGurus Inc (CARG) Director Sells 69,064 Shares of Stock

CarGurus Inc (NASDAQ:CARG) Director Anastasios Parafestas sold 69,064 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $42.69, for a total transaction of $2,948,342.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Anastasios Parafestas also recently made the following trade(s):

  • On Tuesday, October 16th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $42.11, for a total transaction of $5,053,200.00.
  • On Friday, October 12th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $42.41, for a total transaction of $5,089,200.00.
  • On Wednesday, October 10th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $44.81, for a total transaction of $5,377,200.00.
  • On Monday, October 8th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $48.67, for a total transaction of $5,840,400.00.
  • On Thursday, October 4th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $51.39, for a total transaction of $6,166,800.00.
  • On Tuesday, October 2nd, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $53.17, for a total transaction of $6,380,400.00.
  • On Friday, September 28th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $55.53, for a total transaction of $6,663,600.00.
  • On Wednesday, September 26th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $54.78, for a total transaction of $6,573,600.00.
  • On Monday, September 24th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $52.02, for a total transaction of $6,242,400.00.
  • On Thursday, September 20th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $51.71, for a total transaction of $6,205,200.00.

CARG opened at $42.03 on Friday. CarGurus Inc has a 52-week low of $28.00 and a 52-week high of $57.25. The company has a market cap of $4.62 billion and a price-to-earnings ratio of 350.25.

CarGurus (NASDAQ:CARG) last announced its earnings results on Wednesday, November 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $119.04 million during the quarter, compared to the consensus estimate of $112.70 million. CarGurus had a net margin of 10.34% and a return on equity of 12.60%. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. As a group, sell-side analysts predict that CarGurus Inc will post 0.1 EPS for the current year.

Several equities research analysts have issued reports on CARG shares. BidaskClub upgraded shares of CarGurus from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Thursday, August 2nd. JMP Securities upgraded shares of CarGurus from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Wednesday, August 8th. Royal Bank of Canada upgraded shares of CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research note on Wednesday, August 8th. Finally, DA Davidson set a $53.00 price objective on shares of CarGurus and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $53.20.

Several hedge funds have recently made changes to their positions in CARG. First Interstate Bank boosted its stake in shares of CarGurus by 100,560.0% in the second quarter. First Interstate Bank now owns 5,033 shares of the company’s stock valued at $175,000 after purchasing an additional 5,028 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of CarGurus in the second quarter valued at $205,000. NEXT Financial Group Inc purchased a new position in shares of CarGurus in the third quarter valued at $206,000. CIBC Asset Management Inc purchased a new position in shares of CarGurus in the third quarter valued at $209,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of CarGurus in the second quarter valued at $227,000. Institutional investors and hedge funds own 63.35% of the company’s stock.

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About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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